PeterDe Beer

Failed to test top end of BB and Trend Channel.

FX:XAUUSD   Gold/U.S. Dollar
267 0 0
Although the long term trend is clearly in tact, we have not seen a doji near the top end of the channel or BB cloud. A move to either of these would likely be followed with strong and swift downward movement with a test to the lower BB cloud or trend channel within one or two days. Until we reach the top end, I think it is unlikely that the bottom end will be tested.
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